Basware offers unique multi-dimensional business rule based data validation, early detection of exceptions, and matching of invoices to purchase orders, contracts or any predefined payment schedule. Basware’s automated solution validates purchase requisitions and invoices against a set of business rules describing corporate policies and procedures, contracts, bookkeeping rules, purchasing documents, and basic supplier data.
Rules-based matching is a powerful tool for automating the handling of contract based invoices. Basware’s comprehensive five-way matching also utilizes business rules in purchase order matching. During the matching process, Basware Order Matching verifies that an approved and appropriately coded purchase order exists, and then ensures that the goods receipt has been made. Five-way matching extends the process to cover the verification of quality inspection and a complete audit trail.
Matching automation and early detection of exceptions dramatically speeds up the processing of all invoice categories, enabling timely payments, realization of discounts, and avoidance of late payment penalties. Matching statistics can be used for continuous improvement of EPP processes and supplier collaboration. Basware’s integrated KPIs also use the same exception statistics to highlight potential problems or areas in need of improvements.